World Liberty Financial is taking a major step to expand its stablecoin ecosystem.
The proposed trust bank, purpose-built for stablecoin operations, aims to issue USD1, the dollar-backed stablecoin that has surpassed $3.3 billion in circulation within its first year. The charter will allow WLTC to serve institutional customers, including crypto exchanges, market makers, and investment firms, while offering custody and stablecoin conversion services for other digital dollars.
USD1 has grown faster than any other stablecoin in history, according to Zach Witkoff, the proposed President and Chairman of World Liberty Trust Company. “Institutions are already using USD1 for cross-border payments, settlement, and treasury operations,” he said. “A national trust charter will allow us to bring issuance, custody, and conversion together as a full-stack offering under one highly regulated entity.”
Under federal supervision, WLTC plans to provide three core services. First, stablecoin issuance and redemption, allowing users to mint and redeem USD1 with no fees at launch. Second, on-ramp and off-ramp services to convert between U.S. dollars and USD1 without fees. Third, secure custody for USD1 and other approved stablecoins, along with conversion at prevailing market rates. All operations will comply with the GENIUS Act, including strict anti-money laundering, sanctions screening, and advanced cybersecurity protocols.
Mack McCain, general counsel of World Liberty Financial and proposed trust officer of WLTC, emphasized the regulatory safeguards. “The OCC has supervised trust activities for over a century,” he said. “WLTC will operate under that same framework, with segregated customer assets, independent reserve management, and regular examinations. That gives banks, asset managers, and corporations the regulatory clarity they need to expand their use of USD1.”
USD1 is fully backed by U.S. dollars held at regulated institutions and short-duration Treasury obligations. The stablecoin operates across ten blockchain networks, including Ethereum, Solana, BNB Smart Chain, TRON, Aptos, and AB Core. This multi-chain approach enables near-instant cross-border payments, tokenized settlement, and programmable payouts for enterprise clients. For example, a multinational corporation can pay suppliers in multiple countries using USD1 while avoiding traditional banking delays and fees.
BitGo CEO Mike Belshe highlighted the ecosystem’s early success. “BitGo is proud to have supported USD1’s rapid growth to over $3.3 billion in its first year and looks forward to continuing as a key strategic partner as WLTC becomes fully operational.”
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World Liberty Financial Announces that WLTC Holdings LLC has Submitted an Application for a National Trust Bank Charter to Issue and Custody USD1 Stablecoins 🦅☝️ businesswire.com/news/home/2026…
The support since announcing our application for an OCC charter for USD1 has been incredible. We appreciate everyone who’s reached out, engaged, and backed the vision. This is just the beginning of what we’re building 🦅 ☝️
